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Saab reportedly bought by Chinese-led consortium

A Chinese-controlled consortium has completed a deal to buy the assets of bankrupt Swedish carmaker Saab, media reports said. National Electric Vehicle Sweden (NEVS) will pay 1.5 billion to 1.8 billion kronor ($210 million to $250 million) for Saab, excluding spare parts company Saab Automobile Parts AB, according to reports in Sweden. NEVS did not confirm the reports.

Lexus launches 'Design Matters' campaign

Lexus has hosted an event called ‘Design Matters' in New York City, as part of a new strategy to showcase the brand's commitment to design. Toyota's global president Akio Toyoda attended the event along with Mark Templin, executive vice president of Lexus International, who said, "Lexus is expanding as a global company and we need to speak to a broad global audience. There's no better way to do that than through design." Templin used the event to announce its other design-related campaigns.

Here's what an exploded car looks like

Automotive art crosses our desks almost daily here at One Autoweek Tower. Some of it's good, and some of it isn't as good, but once in a while, we see something that actually makes us stop and look. “Hatch” and “Disintegrating” by Swiss artist Fabian Oefner are two of those stop-and-look moments.